Welcome to our dedicated page for Duke Energy news (Ticker: DUK), a resource for investors and traders seeking the latest updates and insights on Duke Energy stock.
Duke Energy Corporation (NYSE: DUK) generates a steady stream of news as a Fortune 150 energy holding company with major regulated electric and natural gas utilities. This page aggregates coverage of Duke Energy’s announcements, allowing readers to follow developments affecting its multi-state operations in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, as well as its natural gas utilities in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.
News about Duke Energy frequently highlights investments in electric grid upgrades, cleaner generation and customer affordability. Recent company communications describe targeted infrastructure projects in Florida that expand solar capacity, upgrade natural gas power plants, harden the grid against storms and deploy self-healing technology, with reported savings of more than $1 billion in energy costs for customers. Other updates detail changes to storm cost recovery charges and bill impacts in response to hurricanes and regulatory decisions in the Carolinas and Florida.
Investors and observers can also track Duke Energy’s progress on the energy transition through news on nuclear and advanced technologies. Examples include the DeBary Hydrogen Production Storage System in Florida, capable of producing, storing and using green hydrogen, and large battery energy storage systems at former coal plant sites in the Carolinas. Regulatory and financial news items cover rate cases, performance-based regulation proposals, production tax credit mechanisms, and scheduled earnings releases and conference calls.
Community and philanthropic initiatives are another recurring news theme, such as America250 grants from the Duke Energy Foundation and employee-driven community investments. By following Duke Energy news, readers can monitor operational decisions, regulatory outcomes, infrastructure projects, customer programs and community support efforts that shape the company’s role in the U.S. utilities sector.
Duke Energy Foundation has allocated $100,000 in grants to support 23 mobile feeding programs across South Carolina, aiding over 10,000 seniors daily. This funding addresses the financial strain on organizations recovering from the pandemic and rising costs. The grants will enable local nonprofits to either purchase gas cards or fund paid drivers, ensuring continued meal delivery. These efforts are recognized as essential during a time of increased food insecurity and operational challenges faced by these programs.
Duke Energy announces a significant investment of over $40 million aimed at aiding communities facing financial struggles due to rising living costs. The funding will focus on grants for nonprofits, bill pay assistance through the Share the Light Fund, and energy efficiency programs. Key allocations include $600,000 for new grants, $8.2 million for nonprofit operational flexibility, $8.8 million for customer bill assistance, and $22.6 million for energy efficiency initiatives.
Summary not available.
Duke Energy (NYSE: DUK) has declared a quarterly cash dividend of $1.005 per share, marking an increase of $0.02. This dividend is payable on Sept. 16, 2022, to shareholders of record as of Aug. 12, 2022. Additionally, dividends for Series A and Series B preferred stocks were declared at $359.375 and $24.375 per share, respectively. Duke Energy has maintained a cash dividend payout for 96 consecutive years, showcasing its commitment to shareholder returns.
Duke Energy will announce its second-quarter financial results on Aug. 4 at 7 a.m. ET on its website. A conference call for analysts will follow at 10 a.m. ET to discuss these results. The call features Lynn Good, CEO, and Steve Young, CFO. Investors can access the call via phone or on the company's investors' section online. A recording will be made available on Aug. 5. Duke Energy, serving 8.2 million customers across several states, is focused on clean energy goals, including reducing carbon emissions significantly by 2030 and achieving net-zero carbon emissions by 2050.
Duke Energy Florida's self-healing technology has significantly reduced power outages, avoiding nearly 250,000 extended outages in 2021, saving about 17 million minutes of customer downtime. Currently, 53% of customers benefit from this technology, with a goal of reaching 80% in less than a decade. The company has also achieved a 20% reduction in average outage duration over the past five years. Investments in infrastructure and clean energy transitions are ongoing, aiming for net-zero carbon emissions by 2050.
The Duke Energy Foundation has awarded $96,000 to Joules Accelerator to create a program enabling college students to assist clean-tech startups in the Carolinas. This initiative, named Joules Camp, aims to enhance community resilience and sustainability through student involvement in decarbonization efforts. Emphasizing diversity and inclusion, at least half of the interns will come from underrepresented backgrounds. Duke Energy is committed to achieving net-zero emissions by 2050, highlighting its ongoing clean energy transition.
Newly enacted Senate Bill 1077 in South Carolina empowers the Public Service Commission to approve plans for securitizing storm-related costs, potentially saving electric customers millions. The law, supported by bipartisan cooperation and quickly signed by Governor Henry McMaster, addresses the financial impact of recent severe weather events on utility companies like Duke Energy. Similar legislation has already been passed in coastal states including Texas and Florida. This approach allows for lower interest rates on bonds issued to cover storm recovery costs, ensuring more cost-effective service restoration for customers.
Duke Energy Progress has filed for an annual adjustment of fuel and renewable energy costs with the North Carolina Utilities Commission, seeking to recover increased fuel expenses due to rising demand and commodity prices. If approved, customer bills will increase starting December 1, 2022, with typical residential bills rising by 8.4%, or approximately $10.58. The proposed adjustments factor in a $210 million under-recovery from the previous year. Duke Energy continues to seek ways to minimize fuel costs and has initiated energy-saving programs to benefit customers.
Duke Energy Carolinas achieved a new summer peak electricity usage record of 21,086 megawatt-hours on June 13, 2022, surpassing the previous record of 20,671 megawatt-hours from July 2016. Combined with Duke Energy Progress, a total peak usage of 34,079 megawatt-hours was recorded. The company emphasizes its preparedness for extreme temperatures through its diverse energy mix and robust planning. Duke Energy is also focused on enhancing grid resilience against severe weather and advancing its clean energy transition, aiming for net-zero carbon emissions by 2050.